Monday, June 22, 2015

The Dow Jones - Ichimoku Study - Chikou Span Reach - Week 4 of June 2015.

Introduction / Primer to Ichimoku can be read at this link (click). 

Learning from the earlier Study: (click here for the post)

Index bounces off from support at the Kijun Sen but gets sent back at the Tenkan Sen yet again #W2.
Gap between the Tenkan Sen and Kijun Sen steady #W2.
Senoku Span A & B, gap increases #W3.
Chikou Span deflects off the Price line #W1.

Wrap: Index takes support at the Kijun Sen, Chikou span stays deflected off the Price line #W1.

Looking Forward into this Week:

Bears seek for the next opportunity to dive into the Kumo #W2.
Cross of Tenkan Sen, to below the Kijun Sen, is next on Bear wishlist #W2.
Chikou Span is on a Bullish deflection, off the Price line, Bulls need to reach higher with the index this week, to keep this going #W1.

Wrap: Bulls look to stay above the Kijun Sen and aim for the All Time High, Bears seek a Bearish Cross of the Chikou Span and the Price line #W2.